Stocks end higher as U.S. claims headway on China trade talks Stocks extended their advance to close the week near record levels as the U.S. said it is close to finalizing parts of its "phase one" trade deal with China. Meanwhile, French President Emmanuel Macron block the EU's attempt to delay Brexit for three months, which raises the prospect that the U.K. might not know whether it will get an extension until hours before it is scheduled to be kicked out of the union on October 31. ECONOMIC EVENTS: In the U.S., the University of Michigan consumer sentiment reading for October was downwardly revised to 95.5 from a 96.0 preliminary reading, though that is up from 93.2 in September. In energy news, Baker Hughes reported that the U.S. rig count is down 21 rigs from last week to 830. In trade news, Treasury Secretary Steve Mnuchin and U.S. Trade Representative Robert Lighthizer held a phone call with Chinese Vice Premier Liu He, after which the Office of the USTR stated that headway was made on specific issues and "the two sides are close to finalizing" some sections of the phase one trade agreement. "Discussions will go on continuously at the deputy level, and the principals will have another call in the near future," the USTR added. In Europe, the European Union postponed its decision on a new Brexit deadline. TOP NEWS: Shares of Amazon (AMZN) closed just 1.1% lower, significantly improved from the lows seen in afterhours trading last night after the e-commerce giant reported third quarter earnings that missed analysts' expectation. The company also provided conservative guidance for the fourth quarter, much of which will occur during the holiday season. Following the report, a number of analysts cut their price targets on the shares, though SunTrust analyst Youssef Squali raised his own, saying that he still sees Amazon as "one of the most attractive assets" in his coverage universe despite the "soft" Q4 guidance. Many of his peers that were cutting their targets also advised buying the stock amid the pullback. Shares of Intel (INTC) jumped 8.1% after the chip maker reported better than expected Q3 results, raised its guidance for fiscal 2019, and approved a $20B increase to its stock repurchase program. Meanwhile, AB InBev (BUD) shares dropped 10.7% after the beer maker reported lower than expected revenue for Q3 and said it continues to see "strong" revenue growth in fiscal 2019. In addition, Verizon (VZ) was in focus after it reported Q3 results that were slightly above consensus estimates and reaffirmed its 2019 outlook. In non-earnings news, Facebook (FB) said it is starting to test Facebook News, a "dedicated place for news" on the platform, to a subset of people in the U.S. MAJOR MOVERS: Among the noteworthy gainers was Amag (AMAG), which rose 13.8% after the FDA posted briefing documents ahead of an advisory committee meeting to discuss Makena's failed confirmatory PROLONG trial that Piper Jaffray analyst Christoper Raymond said "leave the door open" for the continued marketing of the drug. Also higher were Anika (ANIK), BJ's Restaurants (BJRI), and Gibraltar Industries (ROCK), which gained 35.2%, 18.1% and 14.1%, respectively, after reporting quarterly results. Among the notable losers were PG&E (PCG) and Edison International (EIX), which dropped 30.6% and 8.5%, respectively, after California Governor Gavin Newsom declared a state of emergency in Sonoma and Los Angeles counties due to the effects of the Kincade and Tick fires. Also lower were Granite Construction (GVA), Illumina (ILMN), and VF Corp. (VFC), which fell 28.9%, 7.9% and 7.3%, respectively after reporting quarterly results. INDEXES: The Dow rose 152.53, or 0.57%, to 26,958.06, the Nasdaq gained 57.32, or 0.70%, to 8,243.12, and the S&P 500 advanced 12.26, or 0.41%, to 3,022.55. Symbols: $AMZN $INTC $BUD $VZ $FB $AMAG $ANIK $BJRI $ROCK $PCG $EIX $GVA $ILMN $VFCSource: (thefly.com)Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page.